Market Chooses to Focus on Positive News

This column was originally published on RealMoney on July 9 at 3:50 p.m. EDT. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.

You could, if you wanted to, put out a whole paper of positive news today, not that anyone would want to write it. But think of today's action:

1. There's a new chemical takeover.
2. Boeing(BA Quote) has a slew of new orders.
3. We've got a materials takeover at a huge premium (Sequa(SQAA Quote)).
4. Cummins(CMI Quote), Terex(TEX Quote) and Paccar(PCAR Quote) are soaring on something as simple as upgrades from people who missed the whole darned moves.
5. KBR(KBR Quote) got a gigantic contract for liquid natural gas.
6. First Solar(FSLR Quote) also has a gigantic contract.
7. Johnson & Johnson(JNJ Quote) is out with a magnificent buyback, its biggest ever.
8. Conoco(COP Quote) is also out there with a fantastic buyback.
9. Crocs(CROX Quote) is breaking out.
10. Deere(DE Quote) took out its high and vaults still higher.

That's a litany of 10 stories that could all be big news. What did I hear today, though?

1. Ben Bernanke might talk about the need to raise rates.
2. Housing prices are going down again.
3. CDOs are going to lead to more collapses of funds.
4. Bonds are unable to rally.
5. Microsoft(MSFT Quote) is messing up the Xbox.
6. Apple(AAPL Quote) is down on problems with iPhone.
7. Lexmark's(LXK Quote) big blowup.
8. The consumer is strapped by higher electric bills.
9. There's an oil supply crunch.
10. There's a collapse in nat gas even though demand is high.

Bonus bad: Huntington Bancshares(HBAN Quote) blows up off of higher rates and subprime!

What can I say? The second set of facts has not been able to transcend the former. But the good news for the bears? You can recycle the second set tomorrow with a new spin and it could knock us down hard!